Global iron ore prices witnessed at USD 77/MT, CFR China on 03 Jan’17. Prices have moved down by USD 3/MT, CFR China today after market opened after New Year Holidays.
The seaborne iron ore prices saw a dip in the first day trading of 2017 as Chinese government requested the re-rollers and sintering facilities to halt production to improve air quality. As a result, iron ore was traded today.
Despite good enquiries for the material at ports, traders were unable to sell the material at ports as futures slide down and buyers were unwilling to take up the material at higher prices.
The Dalian Commodity Exchange index drop down 3.78% and Shanghai Rebar Future Exchange down by 2.06% today.
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